公募FOF降费“阵营”持续扩大 管理费年费率低至0.2%

Core Viewpoint - The public fund industry is experiencing a deepening trend of fee reductions, with the FOF (Fund of Funds) sector emerging as a new focal point for these efforts [1][2][3] Group 1: Fee Reductions in FOF - Guotai Fund announced a reduction in management and custody fees for its Guotai Stable Income One-Year Holding Mixed (FOF) fund, lowering the management fee from 0.9% to 0.3% and the custody fee from 0.2% to 0.08%, effective December 30, 2025 [1] - Other public FOFs have also joined the fee reduction trend, such as Huaxia Ju Yi Preferred Three-Month Holding Bond (FOF) reducing its management fee from 0.3% to 0.2% starting March 24, 2025 [1] - Southern Fund plans to reduce the management fee of its Southern Haoyu Stable 18-Month Holding Mixed (FOF) from 0.8% to 0.5%, effective January 5, 2026 [2] Group 2: Industry Insights and Trends - The fee reduction in public FOFs is seen as a continuation and deepening of the public fund industry's fee reform initiated by the July 2023 announcement of the "Public Fund Industry Fee Rate Reform Work Plan" [2] - Industry experts believe that the low fee rates are more suitable for long-term investment needs, particularly for pension-targeted FOFs, and that increasing market competition has made fee reductions a crucial strategy for attracting and retaining clients [2] - The ongoing low-interest-rate environment and declining yields on fixed-income assets have made investors more sensitive to the overall cost of fund investments, further driving the trend of fee reductions in public FOFs [2] Group 3: Implications for Investors and Fund Managers - The fee reductions are expected to lower holding costs for investors, enhancing long-term return potential and overall holding experience [3] - For public fund institutions, the fee reductions compel a shift from a "scale-driven" approach to a "capability-driven" model, emphasizing research and asset allocation capabilities to improve stable excess return generation [3] - Public FOFs serve as important tools for asset allocation, providing risk diversification and enhanced returns through systematic multi-asset allocation, particularly by including QDII funds and public REITs [3]